Banglore, 25/3: Indian Premier League (IPL) franchise Royal Challengers Bengaluru (RCB) has been bought by a consortium of Aditya Birla Group (ABG), The Times of India Group (ToI), Bolt Ventures (Bolt), and Blackstone’s perpetual private equity strategy (BXPE, Blackstone) for a valuation of $1.78 billion, which translates to approximately Rs 16,706 crore.
The consortium will acquire 100 per cent stake in RCB from United Spirits Limited (USL), a subsidiary of UK-based Diageo plc. Through the deal, the four-group consortium will own both the men’s and women’s teams of RCB in the IPL and WPL, respectively.
